Hogarth, 2004(2), Are Families Who Use E-Banking Better Financial Managers?

Financial
Counseling and Planning

The Journal of the
Association for Financial
Counseling and
Planning Education


Volume  15(2),
2004


Are Families Who Use
E-Banking Better Financial Managers?

Jeanne M. Hogarth and Christoslav E. Anguelov

    Using the 2001 Survey
    of Consumer Finances, the contribution of various electronic banking
    technologies to financial management practices of U.S. households are
    explored.  Results for a three-level ordered probit model reveal
    that, controlling for a range of socioeconomic, demographic,
    experiential and attitudinal characteristics, consumers’ use of direct
    deposit, phone banking and computer banking are associated with
    “better” financial management.  Implications for firms, educators,
    and policy makers are provided. 

    Keywords: Electronic banking, financial management